Ever wondered what would happen if the zany world of Dogecoin, the cryptocurrency born from an internet meme, collided with the staid, traditional confines of Wall Street and big investment institutions? Well, wonder no longer. In a financial twist that’s almost as unpredictable as Dogecoin’s market cap, a new Dogecoin Exchange-Traded Product (ETP) has emerged, bringing the beloved ‘Doge’ icon to the trading floors of brokers and banks alike.
This isn’t just Dogecoin flirting with mainstream finance; it’s practically dating it now. With a new ETP floating under the ticker DOGE on the SIX Swiss Exchange, investors don’t need to question whether they should hold real DOGE anymore—they can simply buy through their traditional brokers. And let’s not forget, each share is backed by actual Dogecoin in custody, ensuring a level of transparency that would make even the most skeptical investor grin like, well, a dog.
This move by 21Shares is like watching a meme become serious business—a scenario that teeters on the edge of hilarious and groundbreaking. It begs the question: Are we witnessing the maturation of a cryptocurrency that started as a digital jest, or has the world of money-making gone to the memes? LEARN MORE
Key Notes
- 21Shares has floated a new Dogecoin ETP under ticker DOGE on SIX Swiss Exchange.
- Investors can now access Dogecoin through traditional brokers and banks.
- Real DOGE assets back the product in custody to ensure transparency.
Elon Musk-backed memecoin Dogecoin
DOGE
$0.16
24h volatility:
1.2%
Market cap:
$23.51 B
Vol. 24h:
$494.48 M
is once again making headlines. 21Shares has launched the first-ever Dogecoin Exchange-Traded Product (ETP). The move brings the meme-inspired digital asset into the world of regulated finance. Notably, this will make it easier for traditional investors to gain exposure to Dogecoin without using crypto exchanges.
Dogecoin Enters Traditional Finance via ETP Launch
According to the 21Shares’ announcement, the Zurich financial institution launched the Dogecoin ETP on the SIX Swiss Exchange under the DOGE ticker. This product gives investors a new way to buy Dogecoin without holding the cryptocurrency.
It is worth noting that this new development comes after 21Shares filed for a Dogecoin ETF with the US Securities and Exchange Commission (SEC). According to the filing, the asset manager wants to track DOGE’s performance without using leverage or derivatives.
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